May 30, 2017 / 11:11 AM / 2 months ago

ICRA ratings for Indian debt instruments-May 30

10 Min Read

    May 30 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of May 29, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Ashish Construction Co.                 BG                    ICRA A4      60      Reaffirmed
Asvini Fisheries Pvt Ltd                FB – EPC              ICRA A2+     540     Reaffirmed
Asvini Fisheries Pvt Ltd                FB – FBD              ICRA A2+     340     Reaffirmed
Asia Bulk Sacks Pvt Ltd                 FB- Export packing    ICRA D       180     Revised from
                                        credit                                     ICRA A4
Asia Bulk Sacks Pvt Ltd                 Non- fund based – LOC ICRA D       65      Revised from
                                                                                   ICRA A4
Bhagwan Mahaveer Memorial Jain          ST Non-FBL            ICRA BB      5       Revised from
Trust                                                                              ICRA A4+
Jindal Aluminium Ltd                    Non-FBL               ICRA A1+     500     Reaffirmed
Jindal Aluminium Ltd                    CP Programme          ICRA A1+     500     Reaffirmed
Manappuram Finance Ltd                  CP programme          ICRA A1+     12500   Assigned /
                                                                                   Outstanding
enhanced from Rs. 500.00 crore
N.J. Eco-Build Pvt Ltd                  Non-fund based Credit ICRA A4      2.2     Reaffirmed
                                        Exposure Limit
Pitambara Foods                         Non FB – BG           ICRA A4      25      Reaffirmed
Seagull Associates                      FB – Working Capital  ICRA A4      160     Reaffirmed
Shri Aavishkar Metals Pvt Ltd           Non FB – ST           ICRA A4      32      Withdrawn
Sparsh Packagings Pvt Ltd               NFBL                  ICRA A4      3.8     Reaffirmed
Theruvath Builders                      ST; Non-FB Fac        ICRA A4      180     Reaffirmed
(enhanced from 12.00 CR)

MEDIUM TERM RATING:
-------------------         
Jindal Aluminium Ltd                    Fixed Deposit         MAA-         150     Reaffirmed
                                        Programme
LONG TERM RATINGS:
-------------------
Asia Bulk Sacks Pvt Ltd                 FB – TL               ICRA D       91.6    Revised from
                                                                                   ICRA B
Asia Bulk Sacks Pvt Ltd                 FB – CC-sub-limit of  ICRA D               Revised from
                                        export packing credit                      ICRA B
Asia Bulk Sacks Pvt Ltd                 Unallocated Limits    ICRA D       99.4    Revised from
                                                                                   ICRA B /
                                                                                   ICRA A4
Asvini Fisheries Pvt Ltd                Non FB – BG           ICRA BBB+    90      Reaffirmed
Bhagwan Mahaveer Memorial Jain          LT CC                 ICRA BB      47.8    Revised from
Trust                                                                              ICRA BB+
Bhagwan Mahaveer Memorial Jain          LT TL                 ICRA BB      675     Revised from
Trust                                                                              ICRA BB+
Bhagwan Mahaveer Memorial Jain          LT Unallocated Limit  ICRA BB      102.2   Revised from
Trust                                                                              ICRA BB+
Gaursons Hi-Tech                        FB Limits             ICRA         550     Reassigned
Infrastructure Pvt. Ltd.                                      BBB-(SO)             from ICRA BB+
Jindal Aluminium Ltd                    TL                    ICRA AA-     3500    Reaffirmed
Jindal Aluminium Ltd                    FB Limits             ICRA AA-     3000    Reaffirmed
Manappuram Finance Ltd                  NCD programme         ICRA AA-     2500    Reaffirmed
Manappuram Finance Ltd                  NCD programme         ICRA AA-     1376.8  Reaffirmed
Manappuram Finance Ltd                  NCD programme         ICRA AA-     436.4## Withdrawn
##reduced from Rs. 149.33 crore
N.J. Eco-Build Pvt Ltd                  FB TL                 ICRA B       237.8   Revised from
                                                                                   ICRA B
N.J. Eco-Build Pvt Ltd                  FB CC                 ICRA B       70      Revised from
                                                                                   ICRA B+
Nirwana Hotels & Resorts Pvt.           LT – Fund based – TL  ICRA B       77.7    Revised from
Ltd.                                                                               ICRA B+
Nirwana Hotels & Resorts Pvt.           Fund based – OverdraftICRA B       20      Revised from
Ltd.                                                                               ICRA B+
Nirwana Hotels & Resorts Pvt.           Non-fund based        ICRA B       0.2     Revised from
Ltd.                                                                               ICRA B+
P.B. Cotton & Oil Industries            FB – CC               ICRA B       70      Withdrawn
P.B. Cotton & Oil Industries            FB – TL               ICRA B       12.1    Withdrawn
P.B. Cotton & Oil Industries            Unallocated Limits    ICRA B       6.9     Withdrawn
Pitambara Foods                         FB – CC               ICRA B+      35      Reaffirmed
Pnb Realty Ltd.                         LT- TL                ICRA D       59.7    Reaffirmed
Pnb Realty Ltd.                         LT- CC                ICRA D       3.5     Reaffirmed
Pnb Realty Ltd.                         LT- Unallocated LimitsICRA D       21.8    Reaffirmed
Salarpuria Simplex Buildcon Llp         CC                    ICRA BBB     120     Withdrawn
Seagull Associates                      FB – TL               ICRA BB-     10      Reaffirmed
Shivam Cotton Industries                FB – CC               ICRA B       120     Reaffirmed
Shivam Cotton Industries                FB – TL               ICRA B       14.6    Reaffirmed
Shivam Cotton Industries                Unallocated           ICRA B       8.3     Reaffirmed
Shri Aavishkar Metals Pvt Ltd           FB – CC               ICRA B+      45      Withdrawn
Sparsh Packagings Pvt Ltd               FBL                   ICRA BB-     70      Reaffirmed
Sri Mvr Cotton Oil Mills Pvt            LT Unallocated Limits ICRA B       143     Reaffirmed
Ltd
Theruvath Builders                      LT; FB Fac            ICRA BB      220     Upgraded
                                                                                   from ICRA BB-
(enhanced from 20.00 CR)
Tulsiani Constructions And              TL                    ICRA D       300     Revised from
Developers Ltd                                                                     ICRA B+
Vishwas Cotton Industries               FB – CC               ICRA B       50      Reaffirmed
Vishwas Cotton Industries               FB – TL               ICRA B       5.3     Reaffirmed
Vishwas Cotton Industries               Unallocated           ICRA B       4.7     Reaffirmed
--------------------------------------------------------------------------------------------
$: Rating watch with positive implication
#: Rating Watch with Developing implications
@: Rating Watch with Negative Implications
%: Rating under Credit Watch
wd -Rating Stands Withdrawn
sp -Rating Suspended
pp -Principal Protected
pn -Principal Not Protected

ICRA may apply + or - signs for ratings to reflect a comparative standing within the category.

BG-Bank Guarantee; CC-Cash Credit; CCPS-Cumulative Convertible Preference Share; CD-Certificate
of Deposit; CLO-Collateralized Loan Obligation; CPA-Claims Paying Ability; CP-Commercial
Paper; CPS-convertible preference shares; CRPS- Cumulative Redeemable Convertible Preference
shares; DDB-Deep Discount Bond; EPBI-Exchange premium bond; FBL-Fund Based Limits; FRB/FRN
-Floating Rate Bond/Note; ICD -Inter Corporate Deposit; ITD-Immediate Term Debt; LOC-Letter of
Credit; LT -Long Term; LTB -Long Term Borrowing; LTD -Long Term Debt; MOCD-multiple option
convertible debenture; MTD -Medium term Debenture; MTN-medium term notes; NCD(SO) -
Non-Convertible Debenture-(Structured Obligation); NCD-Non-convertible Debentures; NCRB-Non
Convertible Redeemable Bonds; NM-Not Meaningful; OCD-optionally convertible debenture; OD-Over
Draft; OFCD-Optionally Fully Convertible Debenture; PCD-Partially Convertible Debenture;
PCN-partly convertible notes; PCPS-Partly Convertible Preference Share; POCD-partly optional;
PP-privately placed; PSPC-Post Shipment & Packing Credit; PS-Preference Shares; PTC-Pass
Through Certificates; RPS-Redeemable Preference Shares; SCPN-secured convertible preference
notes; SDO-Structured Debt Obligation; SLR-Statutory Liquidity Ratio; SO-Structured
Obligation; SPCD - Secured Partly Convertible Debentures; SPN-secured premium notes; STB-Short
Term Bond; STD-Short Term Debentures; ST-Short Term; Sub. Bonds-Subordinate Bonds; TB-Taxable
Bond; TFB-Tax Free Bond; TL-Term Loan; TOCD-triple option convertible debentures.

(Mumbai Rate Reporting Unit + 91 22 6180 7222 / 3317 7222 , E-mail at
rru.data@thomsonreuters.com)

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